Oct
17th
Sat
17th
41% Of Italy’s Current Deficit Is Financed By “Errors and Omissions”
Central Bank of Italy released August Balance of Payments (pdf)
Considering the last 12 months rolling, current deficit worsened from €47B a year ago to €53B because exports shrank more (-88B or -16%) than imports (-82B or -14%). Italy’s current account deficit is about 3% of the GDP.
What is interesting is that almost half of that deficit is financed “errors and emissions” … €22B in the last 12 months, €9B in August alone.
